Bitcoin falls to $30,109 as market goes for correction

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The cryptocurrency market remained under selling pressure on Thursday amid correction, with market capitalisation going 4.2 percent down to $1.3 trillion.

As of 1310 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price reached $30,109, reflecting a decrease of 5.1 percent. With this decrease in price, the market capitalisation of the biggest crypto has reached $573.8 billion. Bitcoin has gained 1.8 percent of its value over the last seven days.

Bitcoin is continuing to move within a descending triangle pattern. It may witness an immediate support at $26,800, while the resistance at $33,000 could stall upward momentum, which could be limited. —TLTP